Daily News - 21.05.2018
Published: 21. 05. 2018


SBITOP down 0.3%

SBITOP was down 0.3% on Friday, after several days of solid advance led by Gorenje. Daily gainer was Intereuropa with 11.6% jump, while top looser was Luka Koper since it lost 3.1%. Krka was most traded name, with EUR 264ths in volume.
Source: LJSE, Ilirika


FS&P 500 and Nasdaq close lower as US-China trade tensions remain; European markets close lower amid US-China trade news; Glencore down 4.4%

The S&P 500 and Nasdaq composite closed lower on Friday as tensions between the U.S. and China weighed on investor sentiment while both countries continued negotiations on trade. The broad index fell 0.3%, while Nasdaq composite declined 0.4 percent. The Dow Jones was flat.
In corporate news, Nordstrom shares dropped nearly 11 percent after the Seattle-based retailer reported same-store sales that missed analyst expectations. The miss was enough to overshadow better-than-expected revenue and earnings for the first quarter. Applied Materials also dropped 8.3 percent after the company issued guidance that disappointed investors.
European shares closed lower on Friday as concerns over geopolitics and trade intensified. The pan-European Stoxx 600 closed 0.3 percent lower, with major bourses and most business sectors in the red.
Telecoms had plummeted by almost 2 percent at the end of trade. Altice and Telecom Italia dragged the sector lower on news of ratings downgrades. Both stocks dropped during the afternoon to close approximately 3.5 percent to the downside.
Europe's automotive sector also closed well into negative trade, just over 1 percent lower. Fiat Chrysler foundered at the bottom of the group, ending in the red by 1.8 percent. CEO Sergio Marchionne has said that he will overhaul the company's operations in Italy, moving away from the manufacturing of small cars to focus on higher end models.
In earnings news, AstraZeneca reported a 37 percent decline in first-quarter profit, according to Reuters. Shares closed 1.9 percent lower, paring back losses made earlier in the day.
Source: CNBC, Ilirika


Inflation low and stable, NBS says

The inflation has been slowing down, and by the end of the year, it will remain low and stable, the National Bank of Serbia’s Governor, Jorgovanka Tabakovic said at the presentation of the Bank’s report. The gross domestic product will grow by at least 3.5 percent this and next year. The governor is confident that economic indicators would continue being positive, both in 2018 and in 2019. The only things that can challenge the stability of the Dinar and the prices are higher crude oil prices and uncertainties in international capital flows.
Source: Serbiamonitor

IMF, Serbia agree on key elements of new programme

The International Monetary Fund (IMF) said on Friday it reached an agreement with the Serbian government on key policy elements of the new programme for the country. An agreement was reached with the Serbian government on policy objectives, including to foster higher, sustainable growth, maintain fiscal discipline and financial stability, and advance the authorities’ ambitious structural reforms agenda to further improve the living standards of the Serbian people, the IMF said in a concluding statement of a mission that visited the country in May 7-18.
Source: SeeNews

Italy's Fintel Serbian unit to invest 300 mln euro in five years - CEO

Fintel Energija, the Serbian subsidiary of Italy's Fintel Energia Group, plans to invest at least 300 million euro ($353 million) in Serbia in the next five years, the company CEO, Tiziano Giovanetti, said on Friday. Fintel Energija is currently working on securing the 110 million euro financing for a new project in Serbia, a wind farm with a capacity of about 50 MW, Giovanetti said. Last month, Fintel Energija said it submitted an application for the listing of its ordinary shares on the regulated prime listing market of the Belgrade Stock Exchange. The application, filed with the Serbian Securities Commission on April 18, is part of the process for the initial public offering (IPO) of the Serbian company in Belgrade, Fintel Energia Group said back in April.
Source: SeeNews

Back to news